NASDAQ Stocks Broker for Small Accounts?

Discussion in 'Retail Brokers' started by lmn, Mar 22, 2004.

  1. lmn



    I have heard that some US stock brokers allows clients with accounts less than the minimum requirement of $25,000 to trade more than 3 times in 5 days by taking them into the companies' trading umbrellas. How may I find out the names of such brokers?

    Basically I am looking for a broker to allow me to trade NASDAQ stocks more than 3 times in 5 days with tight spread and small commissions, and I cannot afford the $25,000 yet.

    Can you please help me with this? Thanks a lot indeed.

  2. Its not 3 trades in 5 days. Its 3 daytrades in 5 days.
  3. Bob111


    MB trading... read they policy and restrictions. they very interesting. totally different from IB rules about daytrading. i just can't find link to it. basically it says-if you place more than 3 daytrades you are subject to PDT, but-they allow you to trade on aggregated bases. it like-sum of size of your trades cannot be greater than total balance.(as i understand it). if you have 10K-you can buy and sell on same day on 5K per side. or buy and sell 10 times , if you trade 1K each trade. IB after 3 daytrades just block your money and you can't place any orders anymore.
    again-it just what i read on MB site.
  4. lmn


    Hi hoodooman,

    Thanks. I meant PDT restriction in day trading.

    Hi Bob111,

    Thanks indeed. Will have a look. :)

    Wonder whether there is another broker of this kind?